News
Talanx enters Indian market via joint venture
Talanx-owned insurer HDI-Gerling will enter the Indian market through a joint venture with Indian firm NBFC Magma Fincorp after a three-year bid to gain a licence for the region.
Damaging aftershocks hit northern Italy
Two damaging aftershocks, a magnitude 5.8 followed by a magnitude 5.4, occurred on 29 May in Italy's Emilia-Romagna region, which experienced a magnitude 6.0 earthquake on 20 May.
Bidders line up to buy $1.4bn stake in Korean insurer
Government of Singapore Investment Corp and Canada's Ontario Teachers Pension Plan are reported to be among the final bidders to buy stakes in South Korea's unlisted Kyobo Life Insurance in deals worth up to $1.4bn.
BP Marsh net asset value exceeds £50m for first time
BP Marsh's chairman has described the venture capitalist firm's largest investment, Hyperion, as "forging ahead with enviable momentum".
Axa, LV, Zurich, Broker Direct and QBE triumph at Post Claims Awards 2012
Mike Klaiber, Zurich UK claims disease manager, was the winner of the inaugural CII Claims Faculty achievement award last night at the Post Claims Awards.
Second quake strikes north west Italy
At least eight people are reported to have died after the second significant earthquake in nine days struck northern Italy on Tuesday afternoon.
Tycoon's son makes surprise ING Asia bid
The son of Asia's wealthiest tycoon, Li Ka-shing, has lodged a surprise bid for the south east Asian businesses of ING's $6bn Asian insurance operations, the Financial Times reported today.
170 jobs at stake as Kwik-Fit prepares to shut Birmingham office
Kwik-Fit Financial Services has this afternoon revealed that it is planning to close its Birmingham office and relocate to Glasgow at the expense of 170 jobs.
Aviva announcement on senior staff shake-up expected
Aviva is understood to be preparing to inform staff this week of details of the next stage in its plan to "simplify" its business.
Davies hires L&G boss Andy Webb for new COO role
Claims management company Davies has recruited former Legal & General chief operating officer Andy Webb, pictured, for the same role to start on 1 June.
Lift protectionist regulations or lose foreign firms, China warned
A fifth of firms investing in China may shift future investment to other economies as a result of protectionist regulations, according to a survey by the European Chamber of Commerce in China.
RSA targets 'consistency' across global network with GSL restructure
RSA's reorganisation of global speciality lines aims to bring consistency across the group's global network, according to Paul Donaldson, director of global broker relationships and sales.
BMS launches mobile phone app
Specialist insurance group BMS has launched an iPad and iPhone app called BMS Today providing daily insurance and reinsurance news.
Top 10 news stories
The top 10 stories from www.insuranceinsight.com last week.
Insurers told to improve online user experience or risk losing customers
Home and motor insurers have been accused of potentially ruining opportunities to acquire new customers by providing a poor online user experience, following research conducted by online customer experience insights firm Global Reviews.
Cost of flooding hits £1bn per year, claims SearchFlow
A combination of climate change and underinvestment in flood defences has resulted in the annual cost of flooding in England and Wales reaching £1bn, according to research conducted by the Environment Agency and SearchFlow.
Giles hails "peer-beating" 15% rise in 2011 operating earnings as IPO is rejected
Giles CEO Brendan McManus has categorically ruled out an initial public offering as the consolidator today reported a 15% increase in EBITDA to £24m (2010: £21m) on turnover of £81m (2010: £70m) for the full year to 31 August 2011.
Ageas woos Groupama household boss
Ageas has appointed Craig Allen as head of household underwriting, responsible for managing the performance and profitable development of the home account through the control of pricing, underwriting and business development activity.
Government attacked for rushing compensation reforms
The Association of Personal Injury Lawyers has criticised the government for rushing reforms of the compensation system, arguing the "aggressive timetable" may compromise access to justice for injured people.
O’Donnell replaces Robinson as Ace financial lines head
Timothy O'Donnell has been appointed executive vice president of financial lines for Ace's international insurance operations.
IUA working party demands details on regulatory cooperation
More information is needed on how the UK's two new insurance regulators are going to cooperate and ensure fair treatment for companies, a new International Underwriting Association market group has stated.
Miller hires Asia treaty reinsurance specialist
Broker Miller has recruited south east Asia treaty reinsurance specialist Chin Kim Sun from Aon Benfield.
CCV wins chartered status
Cullum Capital Ventures has attained the status of chartered broker.
Amlin to integrate French unit
Amlin France, known as Anglo-French Underwriters before its 2008 acquisition by Amlin Group, will be integrated into Netherlands-based Amlin Corporate Insurance as part of the insurer's European growth strategy.